YEREVAN, April 16. / ARKA /. As of Q1 2014 net profit of Ardshininvestbank amounted to AMD 1.5 billion outperforming the result of the comparable period of the last year by 1.5 times.

The bank said in a statement that its loan portfolio amounted to 171.7 billion drams, a decrease of 3 percent or 5.4 billion drams compared with the end of 2013. The amount of loans to individuals increased by 8.3 % or 4.3 billion drams to 56.4 billion drams.

The bank's assets as of March 31 totaled 277.5 billion drams, an increase of 3% or 8.1 billion drams  compared with the end of 2013. Its capital stood at 44.7 billion drams (up 1.2%). Funds raised from clients during the reporting period increased by 14.4 % or by 23 billion drams to 182.1 billion drams.

As a result of deepening cooperation with international financial institutions, Ardshininvestbank has signed a USD 18.0 million syndicated loan agreement with Citibank.

The transaction represents the first syndicated deal for the Armenian financial institution in the bank loan market without multilateral agency support, having attracted significant interest from both - regional and international banks.

During Q1 2014 the number of permanently active customers increased by more than 2000  to around 223,000 customers.

Ardshininvestbank operates 49 branches in Armenia , six branches in Nagorno-Karabakh and an office in Paris. -0 -